tips: Why are short sales not closing? - 02/04/10 12:07 PM
I came across a few good points to look out for to share today.Ā  To start, it was stated that about one third of short sales are not able to be closed for varrious reasons like:
Seller has too many assets--In this case the lender will require an owner contribution which could be the deal breaker. Seller won't cooperate in the process--This is important because the seller will have to be patient through the process and will for sure have to sign a lot of paperwork. House is the lowest 10% of the neighborhood--This becomes a problem because the comparable will … (7 comments)

tips: Pre foreclosure Sales Tips (Los Angeles, CA) - 03/17/08 02:47 PM
Short Sales or Pre Foreclosure Sales A pre foreclosure is when the lender agrees to accept something less than the full amount of the payoff to avert foreclosure. Most lenders have discovered that it is cheaper to have a short sale or other activity rather than letting the property come back as an asset. This is especially true when the loan amount is much greater than the value of the property.
Keep in mind that when the property becomes REO (real estate owned), the lender now is responsible for the gardening, utilities, taxes, insurance, etc. For this reason, lenders are … (0 comments)

 
Jason Ian Hector, Real Estate Broker in California and Hawaii (Action Investments and Hawaii Pacific Realty)

Jason Ian Hector

Real Estate Broker in California and Hawaii

Porter Ranch, CA

More about me…

Action Investments and Hawaii Pacific Realty

Address: 11630 Seminole Circle, Northridge, CA, 91326

Office: 818-357-9658

Fax: 866-791-3290

San Fernando Valley Realtor Specializing in Foreclosure and Short Sales in the Los Angeles and Ventura Counties.


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